When we launched Bulb five years ago it was because we thought energy customers deserved a better deal. They were being overcharged for bad service, complicated tariffs, and dirty energy. We believed strongly that we should do things differently, and that by building a talented team and creating our own technology we could make energy simpler, cheaper and greener. It felt like a big risk, but we knew we wouldn’t be able to rest until we'd given it a go.
We've been so proud that Bulb has already grown to 6% of the UK market. We've expanded to France, Spain and Texas and we're growing faster in those markets than we were when we launched in the UK. We've built a team that's helping lead the transition towards renewable energy. When we started Bulb just 1% of households were with renewable energy suppliers. Now that figure is over 30%. Green is going mainstream, and Bulb and our members have played a part in making that happen.
Now we're looking ahead to the next five years and to building on the work we've done so far to offer new products, like energy management options for EV drivers, and better domestic battery technology to help continue to cut carbon emissions and meet net zero targets by 2050.
Last year, Amit became increasingly interested in the role battery storage will play as more and more renewable energy is integrated into the grid. Just as we felt a little over five years ago that we'd landed on a challenge we couldn't pass up, Amit’s work on battery storage has left him compelled to look further into this exciting and emerging field.
We feel lucky to have been at the helm of this incredible company together over the past five years, and to have seen such a warm response from our members who've voted with their feet to join us on the journey to a fairer kind of energy industry and a greener planet. We'll end with a note from our Chairman, John Wells:
"It's been a privilege to work with Hayden and Amit and watch Bulb go from strength to strength over the past five years. I'd like to say thank you to Amit for the role he's played both as a co-founder and Chief Energy Officer. Bulb remains in excellent hands with Hayden continuing at the helm as CEO and a fantastic team in place to support him."
Hayden and Amit